The Senate confirms Trump’s candidate to join the Federal Reserve Council

Senate Stephen Miran, one of the best economic consultants at the White House, confirmed on Monday to Federal Reserve The Board of Governors, the body that directs the American economy.

Senate members voted 48-47, to a large extent, the party’s Senate-controlled vote.

Miran is scheduled to submit a report to the headquarters of the Federal Reserve coach in Washington, DC on Tuesday, where officials open a two -day meeting that will help determine the direction economy.

The Federal Open Market Committee will meet on September 16th to set US interest rates and wider Monetary. These decisions roam the costs of borrowing on everything from mortgages to credit cards.

Miran undertakes independence, unpaid leave from the White House if confirmed

Federal Reserve Observers are widely expected that the central bank will reduce prices during the two -day meeting.

president Donald Trump Miran, who is leading the Economic House of Economists at the White House, was exploited on August 7 to fill the seat that the Federal Reserve Governor Adriana Kogler, who resigned in August. Miran will end the rest of the term Kugler, which ends on January 31, 2026.

Miran told the legislators during his candidacy session on September 4 that he would take an unpaid leave from his position at the White House while working in the Federal Reserve Governor Council, also known as the Federal Reserve.

Trump calls Miran as an alternative to the Federal Reserve seat

Miran, a veterans in both the Trump administrations, joins the president on the federal reserve to reduce interest rates, and highlights the political lights on monetary policy.

Trump, which was called Jerome Powell As the Federal Reserve Chair in 2017, pressure has increased in recent months for deeper discounts – urging the central bank to reduce rates to 1 % to stimulate growth.

The Economic Policy to wait and see Powell has kept the main borrowing rate of the central bank in the range of 4.25 % to 4.5 %. Powell said he also stopped cutting rates, partly, to evaluate Economic impact From Trump’s ongoing commercial policy.

Miran’s confirmation also comes as the Federal Reserve Governor Lisa Cook Trump is sued in the Federal Court to keep her place in the influential monetary committee.

The inflation remained stubbornly in August, where the Federal Reserve weighs discounts in interest rates

On August 25 after a series of allegations that she committed fraud on a mortgage. Bill Polly, one of Trump’s eyes at the Federal Agency organizing Fannie and Faridi Mac, link Cook L. Triple of characteristics In a separate referral to the Ministry of Justice.

The trio of mortgage loans was released in 2021 and before Cook nominated as a federal spoiler by the former president Joe Biden.

Trump used these allegations to remove Cook, prompting him to sue him in the Federal Court after three days. A lawsuit named as Trump, the Federal Reserve Referees Council, and Federal Reserve Chairman Jerome Powell.

The ruler of the Federal Reserve, Lisa Cook, suits Trump

The lawsuit was foot On August 28, he does not address allegations that Cook has included many houses as a preliminary residence in mortgage files. At another junction, the Ministry of Justice launched a criminal investigation into Cook on September 4.

The investigation can increase the complexity of the Battle of Cook in order to remain in its role in the Federal Reserve, the Central Banking Committee in charge of directing monetary policy in the country.

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Her lawyer, Abe Lille, wrote in a file on September 2 that she “has never committed the mortgage fraud.”

If Trump succeeds in removing Cook, he would have nominated the majority of the Federal Reserve, which expands his influence on American monetary policy.